MONEY TRANSFER SERVICE WITH FXCOMPARED

If you're thinking of transferring money to a person or business in a foreign country try not to use your bank. Banks have a habit of piling on eye-watering charges - at both ends of the transaction.

But there are plenty of other quick, cheaper and trustworthy services out there.

How to choose the best foreign exchange provider

We’ve teamed up with FXcompared to help you find the most appropriate way to send your money abroad.

They'll save you money over using your bank.

How foreign exchange comparison works

1. Choose the countries you're sending money from and to

2. Choose an amount and hit 'update'

3. Review the results and select a provider - there is no obligation

See the FAQs at the bottom of the page for more details about the service.

Our table shows £10,000 from UK to USA as an example...

Foreign exchange FAQs

What is FXcompared?

It's an independent comparison website for international money transfer that offers a choice of carefully selected, low-cost and efficient ways to transfer money abroad. It’s owned by FX Compared Limited, a private UK company based in London.

How do I use FXcompared?

Select an amount and a destination, choose a provider from the search results and create an account on their website.

What currencies can I compare?

There’s a full range of currencies, covering 93 countries.

How does FXcompared assess each money transfer provider it lists?

Providers are carefully vetted and only those with a solid, trusted reputation are chosen.

Why are some providers I’ve heard of not on the site?

There are only a small number of money transfer providers that FXcompared believes provide the service that meet its criteria.

How do you rank providers in the search results?

The cheapest is not necessarily listed first because other services relevant to your transaction can be as important as price. These include, how long the broker has been in business, how suited they are at dealing with the amount you’re sending, whether they have people available at the destination to deal with your transaction and overall ratings from previous customers. It’s up to use to choose the best one for you. The results are ordered randomly.

Can the broker offer other services.

Yes. Some can help with property purchases or for other specialist businesses services

How long does it take for money to arrive once I send it?

Once you have registered, booked the trade and sent your funds, it should take between one and two days for popular currencies and three days or more for exotic ones.

Can I transfer money online or do I need to phone?

All the brokers listed have an online service with 24hr access, where you can track your transfer and view all transactions. Some also offer a phone service.

What ID do I need to provide?

As with the banks, money transfer providers have a legal obligation to verify your identity before your money can be transferred. Typically you will be asked for a copy of your passport, ID card or driving licence. You’ll also need to verify your address by uploading a copy of a utility bill - although some sites have an automated verification system for addresses.

If I submit my details to a provider through FXcompared do I have to make a trade?

No. Submitting your details does not commit you. It simply begins the process that allows you to register and then trade if you choose to.

Are these providers properly regulated?

Yes, all the providers listed are regulated by the relevant financial bodies in the countries or other regions covered where they operate. For example, the FCA in the UK, FinCEN in the US, and ASIC in Australia.